Burke & Herbert Financial Services Corp. $BHRB Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 779,800 shares of the company’s stock after purchasing an additional 14,358 shares during the quarter. Vanguard Group Inc. owned 5.19% of Burke & Herbert Financial Services worth $48,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BHRB. LSV Asset Management boosted its stake in shares of Burke & Herbert Financial Services by 152.5% in the third quarter. LSV Asset Management now owns 40,900 shares of the company’s stock valued at $2,523,000 after buying an additional 24,700 shares in the last quarter. Endeavour Capital Advisors Inc. boosted its position in shares of Burke & Herbert Financial Services by 65.9% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock worth $6,337,000 after purchasing an additional 40,809 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth $457,000. Teacher Retirement System of Texas purchased a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth $835,000. Finally, Hutchinson Capital Management CA boosted its position in shares of Burke & Herbert Financial Services by 0.4% during the 3rd quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock worth $15,921,000 after purchasing an additional 1,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

BHRB has been the topic of several research analyst reports. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Citigroup cut shares of Burke & Herbert Financial Services to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. Finally, Zacks Research cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $63.05 per share, with a total value of $315,250.00. Following the purchase, the director owned 208,939 shares in the company, valued at $13,173,603.95. This represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jose David Riojas bought 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $62.00 per share, for a total transaction of $62,000.00. Following the purchase, the director owned 20,000 shares in the company, valued at $1,240,000. This represents a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 7,300 shares of company stock valued at $460,650. 10.92% of the stock is owned by corporate insiders.

Burke & Herbert Financial Services Stock Down 1.4%

BHRB opened at $61.47 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.78. The business’s fifty day moving average is $63.22 and its two-hundred day moving average is $64.20. Burke & Herbert Financial Services Corp. has a one year low of $54.45 and a one year high of $70.90. The company has a market cap of $1.24 billion, a price-to-earnings ratio of 7.97 and a beta of 0.74.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, meeting the consensus estimate of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The firm had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.53%.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.